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FOX News
Dec 10, 2012 3:00pm PST
to use for whatever deduction. maybe you want to use for education. maybe you want to use it for your home. maybe you need it for healthcare. let's cap it. itemize deductions at a certain amount. if you cap at $25,000, you can lower all tax rates 20%. plus kill the alternative minimum tax forever and still have $1.3 trillion in revenue. if you do it at $50,000, cap. it gives you $800 billion. >> i like this idea when i first heard it but there are problems and intended consequences. for instance, you wipe out charities. charitable giving changed radically but that cap at $25,000. that is why i like the idea just you can keep giving to charitable or anything else but lowering the rate -- you can't lower it lower than the 28 cents a dollar that karl talked about. >> bret: all right. the 37%, not 39.6, but raising the top tier to 37% is that going to fly? and is the republican caucus in the house? >> it's hard to get the republican caucus to go for rates. they offered revenue. okay, fine. you won the election. give you $800 billion but find it in a way with less of an impact. >> despite
FOX News
Dec 11, 2012 3:00pm PST
down today. meanwhile the department of education is giving michigan students he some very poor grades. it says 72% of public school eighth graders are not proficient in reading and 69% are not proficient in math. math is at the center of our next story. democrats are claiming they have already voted to take a trillion-dollar bite out of the budget deficit through spending cuts. tonight, correspondent doug mckelway tells us whether that claim really adds up. >> we're still waiting for the white house to identify what spending cuts the president is willing to make. >> yet again today, republicans asked where is the democrats' end of the bargain. they accused democrats of ignoring the spending side of the negotiations. accusation democrats object. >> the president signed into law a million trillion dollars spending cuts. >> spending cuts we have already made. >> the democrats have already voted for over a trillion dollars in cuts in spending. >> but are those cuts real? this cbo letter from speaker boehner from july of 2011 confirms that democrats agreed to reduced budget deficit by $915
FOX News
Dec 12, 2012 3:00pm PST
education money and school money. so they have taken those off the table, which leads maybe cost of living adjustment on medicare and social security. and not much else. so, i think that is where we are now. >> jeff, from your reporting where do you get a sense of where we're headed in this. >> troubling sign of the message of closed door meeting where speaker boehner said the members should leave their christmas decorations up. and that they should plan to stay in. i think that one channel for speaker boehner here, he is beginning to face some rumblings of trouble on the right. so far, i think they have been able to do a good job holding everyone together on this. some are members of the house republican caucus that were outspoken after this closed door meeting, telling reporters that speaker boehner, you know is responsible for this. is not negotiating a hard enough. so he has problems on both planks. i think that, i think there is still time. it's december 12, i guess. so i think that by the end of the week, you know, there isn't sort of some more agreement it's a problem. i still think
Search Results 0 to 2 of about 3